The International Swaps and Derivatives Association’s annual meeting began Wednesday in Madrid. Both Gary Gensler (SEC), chairman of United States Securities and Exchange Commission and Rostin Behnam (US Commodity Futures Trading Commission) were the keynote speakers. Gensler spoke in the morning and Gensler later in the afternoon.

Behnam spoke at length about “a request for an amended order of registration as a derivatives clearing organization (DCO) by an entity seeking to offer non-intermediated clearing of margined products to retail participants,” which was Transparently, a reference to FTX US’s Send an email.